TeamViewer confirms number of hacked user accounts is “significant”

Found on Ars Technica on Sunday, 05 June 2016
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For a little more than a month, a growing number of users have reported their accounts were accessed by criminals who used their highly privileged position to drain PayPal and bank accounts.

TeamViewer spokesman Axel Schmidt acknowledged to Ars that the number of takeovers was "significant," but it continued to maintain that the compromises are the result of user passwords that were compromised through a cluster of recently exposed megabreaches involving more than 642 million passwords belonging to users of LinkedIn, MySpace, and other services.

It's still not clear if Teamviewer has been breached or not. While it sounds reasonable that thanks to other breaches a lot of accounts have been successfully tried, it seems like Teamviewer's systems to not take any measures to block you from rotating through thousands of credentials.